This page gives you a brief idea of how income protection works. If you would like some more detailed information why not try our Income Protection FAQs.
Income protection, or permanent health insurance as it is also called, is designed to pay you a regular tax free monthly benefit as a replacement income if you become incapacitated and unable to work due to illness or injury.
The maximum benefit you receive is based on a percentage of your annual earnings and is available to both employed and self-employed people. Income protection is also available to those who are unemployed, however there are several more restrictions placed on those in this classification.
You will receive a monthly benefit from your income protection policy until you are able to return to work or your policy ends, usually around your retirement age. There is no limit on the number of claims you can make during the term of the policy so long as you continue to pay your monthly premiums.
Your policy will only end when it reaches the termination date or you cancel it or stop paying your premiums. Otherwise your protection will last until you reach the end of your cover.
You may also be provided with cover through your employer and it is important you take this into account when looking at additional income protection as this will influence the additional level of protection you need.
Endsleigh can provide you with detailed advice on the benefits of income protection insurance along with ensuring your cover is adequate for your specific needs. As our advisers are independent they are able to search the market on your behalf looking for the most competitive solution.
